Acta OeconomicaPub Date : 2024-03-26DOI: 10.1556/032.2024.00004
László Csaba
{"title":"The revival of comparative economic systems research","authors":"László Csaba","doi":"10.1556/032.2024.00004","DOIUrl":"https://doi.org/10.1556/032.2024.00004","url":null,"abstract":"This essay offers an overview of the state and perspectives of comparative economics in Europe. The starting point is the publication of the collected works of Mario Nuti, but the overview covers several Handbooks and collections as well as individual contributions. The big picture of the post-transition period highlights the relevance of “old” comparative economics, especially when interpreting illiberal practices in the post-communist Europe and the debate on the nature and limitations of the Chinese market socialism.","PeriodicalId":504094,"journal":{"name":"Acta Oeconomica","volume":"78 14","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140377787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Acta OeconomicaPub Date : 2024-03-26DOI: 10.1556/032.2024.00003
Emi̇n Efecan Aktaş
{"title":"The moderating effect of income inequality in fiscal policy efficiency: The case of Central and Eastern Europe","authors":"Emi̇n Efecan Aktaş","doi":"10.1556/032.2024.00003","DOIUrl":"https://doi.org/10.1556/032.2024.00003","url":null,"abstract":"One of the objectives of fiscal policy is to ensure a fair income distribution. In the literature there is no consensus on the income inequality – fiscal policy nexus. Unlike previous studies, this paper contributes to the literature by quantifying the moderating effect of income inequality in total tax revenues and gross national expenditures which are defined as fiscal policy tools. With the help of two moderator variables (income inequality*total tax revenues, and income inequality*gross national expenditures), the impact of income inequality and fiscal policy tools on economic growth are tested for 20 Central and Eastern European (CEE) countries from 1990 to 2019. Diagnostic tests are also carried out on the series before long-term relationships are determined. Our analysis finds that the inequality-growth relationship is negative, the moderator variable defined as income inequality * total tax revenues decreases the strength of the relationship, and the moderator variable defined as income inequality * gross national expenditures increases the strength of the relationship.","PeriodicalId":504094,"journal":{"name":"Acta Oeconomica","volume":"70 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140378116","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Acta OeconomicaPub Date : 2024-03-26DOI: 10.1556/032.2024.00006
M. Lekovič, D. Dimitrovski, Tanja Stanišić
{"title":"A contemporary social network analysis of sharing economy literature","authors":"M. Lekovič, D. Dimitrovski, Tanja Stanišić","doi":"10.1556/032.2024.00006","DOIUrl":"https://doi.org/10.1556/032.2024.00006","url":null,"abstract":"The sharing economy concept has been firmly incorporated into various scientific fields and applied broadly in practice. This paper aims to gain a detailed insight into the contemporary intellectual structure of the sharing economy in the fields of economics, business and management. Using a two-stage approach: a critical literature review and social network analysis (SNA), the dominant research niches and under-investigated issues within sharing economy were identified, along with the most influential authors and papers. Author collaboration and citation connection of papers have also been examined. It was concluded that sharing economy knowledge is gradually approaching the stage of maturity bearing in mind the growing number of articles, the presence of emerging research niches, as well as scarcity of approaches directed to purely quantitative analysis. Additionally, it was discovered that despite the study focus on the predefined research field, sharing economy concept exhibit a remarkable level of postdisciplinarity.","PeriodicalId":504094,"journal":{"name":"Acta Oeconomica","volume":"112 29","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140380525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Acta OeconomicaPub Date : 2024-03-26DOI: 10.1556/032.2024.00001
S. Rosefielde, Michael Bernstam
{"title":"Russo–Ukrainian war: Limits of Western economic sanctions","authors":"S. Rosefielde, Michael Bernstam","doi":"10.1556/032.2024.00001","DOIUrl":"https://doi.org/10.1556/032.2024.00001","url":null,"abstract":"The potency of economic sanctions imposed on nations depends on demand and supply adjustment possibilities. Adverse GDP impacts will be maximal when import, export, production, distribution and finance are inflexible (universal non-substitution). This paper elaborates these conditions, and quantifies the maximum GDP loss that Western sanctions could have inflicted on Russia in 2022–2023. It reports the World Bank's predictions, contrasts them with results and draws inferences about the efficiency of Russia's workably competitive markets. The paper shows that Russia's economic system exhibits moderate universal substitutability and is less vulnerable to punitive discipline than Western policymakers suppose. The likelihood that the Kremlin will restore Ukraine's territorial integrity, ceteris paribus, is correspondingly low. The authors also observe that unintended adverse side effects from sanctions and counter-sanctions were excessive because policymakers chose to maximize GDP-damage to Russia instead of optimizing Western and third-party net benefits. Given moderate substitutability, Western policymakers can switch to smart net benefit maximizing sanctions that enhance Western and third-party welfare without significantly bolstering Russia's military industrial productivity and war-waging capabilities by retaining embargoes on weapons, technology and critical components, while selectively softening other restrictions. Smart sanctions might facilitate a negotiated settlement of the Russo–Ukrainian war.","PeriodicalId":504094,"journal":{"name":"Acta Oeconomica","volume":"102 27","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140379680","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Acta OeconomicaPub Date : 2024-03-26DOI: 10.1556/032.2024.00005
Achilles Tsimis, Lefteris Tsoulfidis
{"title":"Revisiting investment and its determinants through threshold analysis","authors":"Achilles Tsimis, Lefteris Tsoulfidis","doi":"10.1556/032.2024.00005","DOIUrl":"https://doi.org/10.1556/032.2024.00005","url":null,"abstract":"Since the time of classical economists, investment decisions hold centre stage in economic theory. In this article, we integrate classical economists' perspectives on the determinants of investment with the Keynesian theory of effective demand. For this purpose, we employ variables to capture the effects of profitability, the state of demand, and the financial and risk conditions using time series data from 17 major OECD economies spanning the 1960–2017 period. Two are the salient features of our article: The first is the use as profitability variables, the marginal efficiency of capital or the incremental rate of return, and the second is the use of regime changes and respective threshold values for these two key variables. The econometric results show that the profitability variables are decisive in shaping investment decisions and designating phase changes.","PeriodicalId":504094,"journal":{"name":"Acta Oeconomica","volume":"59 10","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140378346","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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